Mission Peak Capital Buys Stake in Mount Street US
Mission Peak Capital (MPC) is to make a ‘significant financial investment’ into Mount Street Group. Mount Street is the largest third-party loan servicer in Europe, where it oversees over $95b of credit services, and seeks to grow its US presence while providing more customized, bespoke servicing by leveraging Mission Peak Capital’s deep understanding of commercial real estate cycles.
The companies are now positioned to lead the industry in high-touch servicing combined with the holistic perspective of a commercial real estate investment’s lifecycle.
MPC principal and founder Wit Solberg said:
“Our investment in Mount Street is a direct result of our recognition that commercial real estate is evolving and continues to be deeply impacted by changing global trends. Investors are seeking yield and purchasing increasingly complicated investment vehicles further up the credit curve which will require an experienced servicing partner. This partnership will not only benefit investors with more customized solutions–lenders and borrowers will all gain advantage from a servicing provider that truly understands real estate from an asset level to ensure success.”
Mount Street Founder, Managing Partner and CEO Ravi Joseph said:
“This joint venture will enable our global clients to have further reach in US capital markets. We see this is an advantageous partnership that will position our international brand as a truly differentiated, bespoke solution with an all-encompassing offering unmatched by other competitors. Too often, firms are hired to service loans without direct knowledge of the actual product: the property itself. The MPC/Mount Street joint venture has ‘on-the-ground,’ first-hand expertise with global real estate assets and operations to deliver the utmost value to clients.”
MPC is intrinsically involved in every aspect of CRE including loan origination, bond servicing, B-piece bond investing, equity ownership and property management. MPC’s portfolio of investments and expertise creates a differentiated CRE servicing platform, one known for matching opportunities that align with the current real estate market cycle. Mount Street launched US operations in 2017 and currently oversees $12b in assets under management (AUM).
This partnership will expand beyond its Atlanta and New York offices and will add up to 20 new, seasoned servicing and asset management professionals in Atlanta and its new office in Kansas City.